Headwaters MB advised Auction Credit Enterprises (“ACE”), a leading specialty finance company, on a second-lien term loan financing with a Midwest-based institutional lender.

Through branch offices located in Texas, Georgia, and Pennsylvania, ACE provides short-term, inventory-secured floorplan loans to qualified independent used vehicle dealers to finance their acquisition of vehicles for subsequent resale to consumers.

Dustin Miller, CFO of ACE said, “Kent and the Headwaters team introduced us to a well-targeted group of institutional lenders and provided us invaluable advice through the whole transaction. We could not have been more pleased with our selection of them as our advisor.”

Kent Brown, Managing Director at Headwaters MB, commented, “The ACE debt capital raise significantly strengthens the Company’s balance sheet and also provides the needed growth capital to open several new branch offices throughout the country. We are excited to have played a role in the exciting Auction Credit growth story.”

Headwaters MB acted as exclusive financial advisor to ACE. Terms of the transaction were not disclosed.